Asset Management Plan (Transport, Stormwater, Open Space, Buildings and Coastal Walking Trail)

Asset management planning is a comprehensive process to ensure delivery of services from infrastructure is provided in a financially sustainable manner. An asset management plan (AMP) details information about infrastructure assets including actions required to provide an agreed level of service in the most cost effective manner. The plan defines the services to be provided, how the services are provided and what funds are required to provide the services.
The AMP incorporates key information drawn from individual Transport, Stormwater, Open Space, Buildings and Coastal Walking Trail Asset Management Plans (background documents) that have recently been developed by Council. One of the principal aims of this plan is to inform the preparation of Council’s Long Term Financial Plan (LTFP). The plan uses the Draft 2015/16 10 year LTFP as its basis but ultimately proposes a realignment of funds between the different infrastructure asset types and between renewal and new / upgrade expenditure.
In the development of the plans it became clear that there was opportunity for reform particularly in the programming of the road reseal / reconstruction program. Following the recent adoption of Council’s Asset Management Policy1, projections of upgrade and new work have been removed, so that only projects approved by Council are included in the plan. The result of these two changes is an indicative (unrealised) surplus of $38.8 million over the 10 years of the Draft 2015/16 LTFP based on projected budget requirements and projected budget availability.
However, it is generally considered unreliable to draw comparisons between annual depreciation figures and sustainable renewal requirements, as infrastructure renewal requirements generally exceed depreciation. The forecast building renewal requirement outlined above is therefore considered conservative (low). This plan does not include short term assets (such as fleet, furnishings, telecommunications equipment). While land assets are not discussed explicitly, most land assets contain building or open space infrastructure. The infrastructure assets have a current replacement cost of $938.9 million and a depreciable amount of $609 million (Council audited valuations).
Assets covered by this plan and background documents include; o Bridges o Buildings o Bus shelters o Coastal walking trail o Footpaths o Irrigation o Kerbing o Playgrounds o Reserves assets, benches / bins etc o Road seals and pavements o Signs o Sports courts o Stormwater pipes & pits o Traffic control devices o Wetlands